Cement News tagged: Corporate
HeidelbergCement sells southern Spanish assets to Votorantim
After having announced to sell regional businesses in Catalonia, Madrid, Asturias and on the Balearic Islands, HeidelbergCement now signed a contract to sell its southern Spain business to Votorantim Cimentos. The sale includes the 1.4Mta integrated cement plant in Malaga, three aggregate sites, and 11 ready-mixed concrete sites in Andalusia. Both companies have agreed not to disclose...
Votorantim Cimentos sees net income rise by 57 per cent in 3Q21
Votorantim Cimentos posted net income of BRL1.1bn (US$200.5m) in the 3Q21, an increase of 57 per cent over the same period last year. The company had global net revenue of BRL6.4bn in the 3Q21, an increase of 24 per ent compared to the 3Q20, primarily due to an increase in sales volume and favourable price dynamics. Votorantim Cimentos' global cement sales totalled 10.4Mt in the 3Q...
FLSmidth sees 22% rise in revenue
FLSmidth has reported a 22 per cent YoY increase in revenue to DKK4660m (US$718.8m) in the third quarter of 2021, compared to DKK3834m in the 3Q20. EBITA advanced 72 per cent to DKK305m from DKK177m, while EBITA margin reached 6.5 per cent from 4.6 per cent. Including currency effects, order intake increased by 15 per cent YoY to DKK4549m against DKK3955m in the year-ago period. “Third q...
Eagle Cement Corp announces 89% advance in profit
Philippine-based Eagle Cement Corp has seen its net profit surge 89 per cent to PHP5.1bn (US$101.76m) in the first nine months of 2021, against PHP2.7bn in the comparable period of last year. Net sales advanced 63 per cent YoY to PHP16.2bn, which has been attributed to a double-digit growth in volumes despite the average selling price of cement declining. “We are pleased to report an enc...
CIMAF to expand capacity with IFC, Proparco and EAIF financing
CIMAF will receive financial support from IFC, Proparco and the Emerging Africa Infrastructure Fund (EAIF) to help its drive for capacity expansion to meet the growing demand for housing and infrastructure in west Africa. IFC is providing a EUR161.25m financial package for CIMAF, which includes a EUR92.5m loan on its own account as well as a parallel loan of EUR33.75m from Proparco and a EUR...
Nuvoco records group revenues of INR2000m in 2QFY21-22
Nuvoco Vistas Corp Ltd (Nuvoco) announced its unaudited financial results for the quarter ended 30 September 2021 with consolidated revenue from group operations (including NU Vista Ltd) reaching at INR20,200m (US$26.89m). Consolidated EBITDA margin stood at 17 per cent. Commenting on the results, Jayakumar Krishnaswamy, MD of Nuvoco Vistas Corp Ltd, said, “In spite of the challenging marke...
Sika to acquire MBCC Group
Sika has agreed to acquire MBCC Group, formerly BASF Construction Chemicals, from an affiliate of Lone Star Funds for CHF5.5bn (EUR5.2bn). Germany-based MBCC Group is a leading supplier in construction chemicals worldwide with operations in over 60 countries and more than 130 production facilities. In 2021 the group was forecast to generate net sales of CHF2.9bn. According to Sika, the acqu...
Taiwan Cement sees revenue up 1% in October
Taiwan Cement has seen a modest one per cent YoY increase in October revenue to TWD9.57bn (US$344.8m) compared to TWD9.47bn in the year-ago period. In the first 10-months of the year, revenue was up 0.7 per cent to TWD86.47bn from TWD85.9bn.
Hsing Ta Cement records 16% decline in revenue
Taiwan’s Hsing Ta Cement has seen a 16.4 per cent YoY decline in October revenue to TWD660.62m from TWD789.78m in the same month of 2020. In January-October 2021, revenue was down 3.1 per cent YoY to TWD5.82bn from TWD6bn.
Buzzi Unicem records 9M21 cement sales of 23.4Mt
Buzzi Unicem SpA has reported a 7.5 per cent rise in cement sales volumes in the first nine months of 2021, increasing to 23.36Mt from 21.72Mt. Consolidated net sales stood at EUR2541.7m (US$2938m), up 5.6 per cent against EUR2408m in the 9M20. The unfavourable variances in exchange rates had an impact of EUR85.2m. On a like-for-like basis, turnover would have increased by 9.1 per cent, acc...
Cementos Argos announces 5% increase in 3Q revenue
Cementos Argos has posted consolidated revenues of COP2489bn (US$641.82m) in the third quarter of 2021, up 5.3 per cent YoY, favoured by the positive evolution of volumes and prices. Adjusted EBITDA also increased 2.4 per cent YoY to COP473bn from COP462bn in the 3Q20. The positive EBITDA evolution was mainly attributed to the performance of Colombia, in a combination of better market enviro...
Buzzi Unicem's 9M21 regional results improve in USA and Eastern Europe
The sales volumes achieved by Buzzi Unicem in the third quarter of the current year showed a positive development in the United States and in Eastern Europe, which more than offsets the partial slowdown observed in Italy, mainly due to a high-base comparison, and a more evident contraction in Germany, also penalised by the unfavourable weather in July. In Italy, in the first 9M21, sales ...
Lucky Cement posts 15% fall in revenue in 10M21
Taiwan’s Lucky Cement has posted a 27.5 per cent YoY decline in revenue to TWD276.7m (US$9.84m) in October 2021, compared to TWD381.65m in the year-ago period. In the first 10 months of the year, revenue decreased 14.9 per cent to TWD3.18bn from TWD3.74bn in the 10M20.
Southeast Cement Co reports 5% rise in October revenue
Taiwan’s Southeast Cement Co has seen a 5.4 per cent YoY improvement in October revenue to TWD151.36m (US$5.46m), compared to TWD143.59m in the year-ago period. In the January-October 2021 period, revenue improved 16.7 per cent to TWD1.5bn from TWD1.28bn.
Cemex closes US$3.5bn credit agreement
Cemex has closed a new US$3.25bn syndicated credit agreement, with it being the first debt issued under its sustainability-linked financing framework. The proceeds have been used to fully repay its previous facilities agreement. The new credit agreement consists of US$1.5bn in five-year amortising term loans and a US$1.75bn five-year committed revolving credit facility, the company said in ...
Qassim Cement sees sales down 27% YoY
Saudi Arabia’s Qassim Cement has reported a net profit of SAR60.4m (US$16.11m) in the third quarter of 2021, down 49.7 per cent YoY from SAR110.1m. Sales also decreased 26.5 per cent to SAR170.3m from SAR231.6m in the 3Q20.